Cummins Inc. (NYSE:CMI) Shares Bought by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its position in shares of Cummins Inc. (NYSE:CMI) by 4.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,012 shares of the company’s stock after purchasing an additional 492 shares during the period. Atria Wealth Solutions Inc.’s holdings in Cummins were worth $2,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CMI. Wynn Capital LLC purchased a new position in shares of Cummins in the 4th quarter worth about $564,000. NewSquare Capital LLC grew its stake in Cummins by 3.6% during the fourth quarter. NewSquare Capital LLC now owns 31,975 shares of the company’s stock worth $7,595,000 after buying an additional 1,109 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Cummins in the fourth quarter worth $250,000. Parkside Financial Bank & Trust raised its stake in shares of Cummins by 9.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,648 shares of the company’s stock valued at $395,000 after acquiring an additional 145 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Cummins by 0.8% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 9,525 shares of the company’s stock valued at $2,279,000 after acquiring an additional 75 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Performance

Shares of CMI opened at $291.14 on Monday. The stock has a market capitalization of $39.82 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 1.98 and a beta of 1.04. The business’s fifty day moving average price is $283.34 and its 200 day moving average price is $250.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter in the previous year, the business posted $4.52 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Cummins Inc. will post 18.34 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Analysts Set New Price Targets

CMI has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. Morgan Stanley assumed coverage on Cummins in a report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target for the company. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $243.00 to $225.00 in a research report on Friday, January 19th. Evercore ISI upped their target price on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, Citigroup raised their price target on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $279.70.

Insider Transactions at Cummins

In related news, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the transaction, the director now directly owns 1,068 shares of the company’s stock, valued at approximately $284,696.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Daniel William Fisher acquired 562 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the transaction, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 37,450 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the transaction, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is currently owned by company insiders.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.